Bosses of The Pallasades Shopping Centre in Birmingham are considering selling up to make way for the £350m revamp of New Street station.
Architects are yet to come up with a final design for the revamp
They have had a number of unsolicited offers to buy the 60s shopping centre above the station.
Network Rail and Birmingham City Council are working to produce a final plan for the city's main train station.
The chief executive of the shopping complex said as a rule the company did not take part in big redevelopments.
No firm decision
Ken Ford said: "Following a number of unsolicited approaches from interested parties, we have decided to explore selling our interest in The Mall, Pallasades.
"While the precise details of these plans have yet to be revealed, The Mall, as the UK's leading owner and operator of community shopping centres, does not, as a rule, participate in redevelopment projects of this scale.
"Therefore, the timing would seem right to consider selling the mall."
Network Rail said they intended to spend £350m on the site but added architects were still drawing up designs for the redevelopment, so it was not yet know how the Pallasades fitted into the plan.
"The feasibility design is progressing well but no firm decision as to the appropriate solution has been made," a spokesman said.
"We are aware that the Mall Corporation, current owner of the Pallasades, is considering selling the site and we will work with them to ensure that potential purchasers are aware of our proposals."